Chinese government plans to 'regulate and restrain high-priced signings'

As Chinese clubs break transfer records with absurd amounts of money used to lure world-class footballers to the Far East, the Chinese government is drawing up plans to intervene.

In an interview with China's state media, a spokesman of China's general administration of sport detailed the government's intention to "regulate and restrain high-priced signings, and make reasonable restrictions on players' high incomes."

As the Guardian points out, the spokesman also revealed the government's intention to "set the upper limit" for transfer fees and income, and control "irrational investment" with the goal of building "100-year clubs."

The spokesman's comments followed Shanghai SIPG's signing of Oscar from Chelsea, which is reportedly valued at £72 million, and Shanghai Shenhua's acquisition of Carlos Tevez from Boca Juniors, apparently valued at £71 million. The Brazilian midfielder and Argentinian forward will allegedly earn £400,000 and a world-record £615,000 per week, respectively.